e. none of the above Answer: 30. The following information pertains to the January operating budget for Jones Corporation. Budgeted sales for January $200,000 and February $107,000. Collections for sales are 40% in the month of sale and 60% the next month. Gross margin is 25% of sales. Administrative costs are $11,000 each month. Beginning accounts receivable is $26,000. Beginning inventory is $15,000. Beginning accounts payable is $68,000. (All from inventory purchases.) Purchases are paid in full the following month. Desired ending inventory is 25% of next month's cost of goods sold (COGS). For January, budgeted cost of goods sold is a. $200, 000 b. $150, 000 c. $135,000 d. $72,600 e. none of the above Answer: nad/37208103/DirectFileTopicDownload